This is a follow up to the March 22, 2012 article TaxMasters Labeled A Money Stealing Scam Leading The Company To File Bankruptcy Due To A Massive Lawsuit. Yesterday, a Texas jury slapped the questionable company and its CEO with a $195,000,000 verdict for defrauding and misleading members of the public, after accepting thousands to resolve tax issues. Thousands of complaints streamed into the Better Business Bureau regarding their unethical practices.
For years, Patrick Cox has run commercials on American television, proclaiming he can significantly cut people's tax debt with the Internal Revenue Service (IRS). However, over 1,000 complaints to the Better Business Bureau, from consumers stating they have been fleeced out of thousands of dollars, paid up front to TaxMasters, for Cox to negotiate and resolve their tax debts, says otherwise.
Patrick Cox
On March 18, 2012 TaxMasters sought bankruptcy protection, filing Chapter 11, in an attempt to fend off a potential multi-million dollar court verdict against the company, regarding customers that have lost money using their service and gotten nowhere with the IRS in the process. Buyer beware.
